502 W 42nd St, New York City, NY 10036
Waiting List Forecast: Likely Short or None
Verified for 2023 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $831 - 1,225 per Month† | 1 - 3 Beds | 1 Bath | 803 - 1,310 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
500 W 42nd St offers a blend of livability, quality and comfort. A short distance form many businesses, this location is ideal in the Bronx.
Because 500 West 42nd Street West Wing participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. Because of the LIHTC program, additional units are set aside for households earning 50% or less of the AMI with corresponding lower rent caps.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 803ft2 | $831 $950† |
| Two Bedroom (2/1) | 1103ft2 | $986† |
| Three Bedroom (3/1) | 1310ft2 | $1,137 $1,225† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $49,450 / year | $56,500 / year | $63,550 / year | $70,600 / year | $76,250 / year | $81,900 / year |
| 50% AMI for PBRA Units | $49,450 / year | $56,500 / year | $63,550 / year | $70,600 / year | $76,250 / year | $81,900 / year |
| 60% AMI for LIHTC Units | $59,340 / year | $67,800 / year | $76,260 / year | $84,720 / year | $91,500 / year | $98,280 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does 500 West 42nd Street West Wing have a waiting list?
500 West 42nd Street West Wing probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at 500 West 42nd Street West Wing?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges 500 West 42nd Street West Wing?
500 West 42nd Street West Wing is managed by Clinton Housing Development Company headquartered in New York, New York.
In addition to 500 West 42nd Street West Wing, how many other affordable housing properties (and units) are there in New York City?
In addition to 500 West 42nd Street West Wing, we list 2637 other affordable properties in New York City. Learn about these properties here. Our data research shows that there are a total of 402423 affordable units in New York City.
55 Richman Plaza, New York City, New York 10453
315 Linwood St, New York City, New York 11208
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